Long term trend - Long
Nature - Corrective phase
Pattern - Rising wedge
Stoploss - 50 pips
Risk: Reward - 1:4
Rising wedge is a reversal pattern highly suggestive of a change in trend to SELL.
FX:EURUSD
(FOR LEARNING PURPOSE ONLY)
Clearly we can see expanding volume whenever the price moves up & declining volume on down move
But in most recent up move (inside channel),price increasing on declining volume
Considering the volume pattern,the resistance zone becomes crucial .
If price holds on to the resistance and moves down,if volume...
Hi traders
what an interesting set up on EURUSD this week, really alot of action happening in this pair , last week it breaks the long time resistance at 1.34 area, the Resistance at 1.39 can be the new support..if it happens bulls will takeover the market, or the price sent back at 1.39 , may it go down..but it favours the bull this week, may the price march...
Hello Traders, Hope you are all doing well. EURUSD has come to all time high since last month. So my potential trade for this week would be sell side with SL of 40 pips from current price. Good R:R 1:3.5
Hey folks,
HOpe you had a good trading week.
This is EURUSD 4H chart and the price is forming a double top pattern at a strong resistance zone. To confirm this, checked with DXY index too. The DXY index is also at a strong support zone which means price may reverse anytime. Lets wait for a confirmation and enter into a shorting position.
Have a good weekend.
Cheers
All targets hit, compare this analysis with the previous one!
Elliot and Fibonacci are powerful tools !!
Look and observe the EURGBP analysis that I posted here, I foresee a big increase this week.
the 4 hour right side is down with a bearish sequence against 1.1557. The 1 hour is turning up against 1.1252. While above there expect the pair sees another high in the cycle from the March lows before a turn lower again.
Long EURUSD
@1.1300-1280
Target: 1.1420
SL: 1.1250
good luck !
